Donald Trump Jr., the eldest son of the U.S. President, has disclosed an investment in Thumzup Media Corp, a social media marketing company that employs a Bitcoin (BTC) treasury strategy.
According to Bloomberg, Trump Jr. currently holds 350,000 shares in the company, valued at nearly $3.3 million, with the stock trading at approximately $9.50 per share.
The company's board approved the use of Bitcoin as a corporate treasury asset in November 2024, allowing for the purchase of up to $1 million in BTC. CEO Robert Steele stated after the decision:
In May, the company also submitted a universal shelf registration to the U.S. Securities and Exchange Commission (SEC) to raise $200 million through corporate debt and equity financing to fund further Bitcoin acquisitions.
According to data from BitcoinTreasuries, Thumzup currently holds 19.11 BTC, valued at over $2.1 million, having accumulated these assets since January. The surge in Bitcoin treasury companies since 2024 has led some analysts to speculate on the sustainability of the corporate treasury model and whether these institutions will persist or gradually fade away, potentially triggering the next long-term bear market.
Michael Saylor, co-founder of Strategy, promoted the Bitcoin treasury concept after repositioning his business intelligence software company as a Bitcoin treasury company in 2020.
According to BitcoinTreasuries data, since then, 258 institutions have adopted Bitcoin as part of their corporate reserves, including asset management firms, publicly traded companies, private companies, crypto custodians, and government organizations.
However, some analysts believe this trend is unsustainable, and many MicroStrategy imitators will fail due to a lack of faith in this limited-supply digital asset. Bitcoin extremist Max Keiser stated that Saylor and his company have been battle-tested, having withstood previous bear markets and continued to accumulate during market cycles, unlike new treasury companies that have yet to face market downturns.
A report released in June by venture capital firm Breed echoed Keiser's view that most Bitcoin treasury companies will not survive and will be forced into a death spiral once BTC prices begin to decline.
Related: South Korea plans to lift restrictions on cryptocurrency venture capital business
Original article: “Donald Trump Jr. Invests in Bitcoin (BTC) Treasury Company Thumzup Transforming Social Media”
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